From CNBC: 2024-10-14 11:45:16

Boeing Machinists union members have been on strike for over a month, costing Boeing over $1 billion a month, putting pressure on CEO Kelly Ortberg. Talks have broken down, with the union rejecting a sweetened contract offer. Layoffs are also looming as Boeing plans to cut its global workforce by 10%.CEO Ortberg said layoffs are part of a global workforce reduction, alongside production cuts for 767 freighters and delayed 777X deliveries. Boeing expects deepening losses for the third quarter and faces the risk of a downgrade to junk status. The aerospace supply chain may also be impacted by Boeing’s instability.



Read more at CNBC: Boeing factory strike crosses 1-month mark as pressure mounts on CEO